After a relatively tame September, Palantir (NASDAQ: PLTR) stock insider traders have been accelerating their selling activity in October, with a total reported volume for the month standing above $8 million by press time.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Director Alexander Moore was the latest among them to disclose a major market maneuver. Specifically, on October 19, he disclosed dumping 16,000 PLTR shares at an average price of $197.99, raising a total of $3.16 million.
This was Moore’s first Palantir insider trade since he offloaded the same number of shares for a slightly smaller $2.76 million on September 15 – exactly one month earlier – and the second-biggest such sale of Palantir stock in October.
Chief Revenue Officer (CRO) and Chief Legal Officer (CLO) Ryan Taylor, meanwhile, is responsible for the biggest market move among the firm’s senior personnel since the month started. Specifically, he dumped 18,000 PLTR on October 8 for $3.6 million.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Is October flare-up in Palantir insider sales a sell signal for PLTR stock?
Notably, the fact that Moore’s trades have been happening every month in a range smaller than a single week – October 15, September 15, August 17, July 15, etc. – makes what would otherwise be interesting timing irrelevant.
Indeed, after starting October at $190.04, Palantir shares briefly stagnated and even retraced slightly before taking off to recent highs above $209. Director Alexander Moore’s trade, for its part, occurred just before a severe 7.22% one-session drop that took place on Friday, October 16.
Ryan Taylor’s trade, instead, might be more interesting since it took place shortly before PLTR equity found its latest monthly high and was executed close to the intraday high. Indeed, the CRO and CLO sold at $201.15, and Palantir met the October 8 evening bell at $198.78.
Still, even that insider trade likely does not represent a signal about the company’s future due to the numerous rules regulating the stock market activities of senior personnel at every public firm.
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